Federal Register / Vol. 88, No. 223 / Tuesday, November 21, 2023 / Notices 81173 

19See Securities Exchange Act Release No. 98451 

(September 20, 2023), 88 FR 66088 (September 26, 

2023) (SR-Phlx-2023–07) (Order Granting Approval 

of a Proposed Rule Change, as Modified by 

Amendment No. 1, to Make Permanent Certain 

P.M.-Settled Pilots)(‘‘Phlx Pilot Approval’’). 

20See Notice, supra note 3 at 68887. 

21See Notice, supra note 3 at 68886. 

22See id. 

23See id. 

24See id. 

25See Securities Exchange Act Release No. 65256 

(September 2, 2011), 76 FR 55969, at 55972 

(September 9, 2011) (SR–C2–2011–008) (Order 

approving proposed rule change to establish a pilot 

program to list and trade SPXPM options on the C2 

Options Exchange, Incorporated). 

26See e.g., Phlx Pilot Approval; Securities 

Exchange Act Release Nos. 98450 (September 20, 

2023), 88 FR 66111 (September 26, 2023) (SR–ISE– 

2023–08) (Order approving a nonstandard 

expirations pilot program and p.m.-settled 1/5 NDX 

options) and 98454 (September 20, 2023), 88 FR 

66103 at 66103–04 (September 26, 2023) (SR– 

CBOE–2023–005)(Order approving p.m.-settled 

Third Friday SPX options). 

27See e.g., Phlx Pilot Approval, 88 FR at 66091. 

28See id. 

29See supra note 19. In addition, the Commission 

previously approved a pilot program permitting the 

listing and trading of Third Friday NDX options on 

the Exchange. See Securities Exchange Act Release 

No. 81293 (August 2, 2017), 82 FR 37138 (August 

8, 2017) (approving SR–Phlx–2017–04). Phlx did 

not list any options under the program and 

subsequently removed the rule from its rule book. 

See Securities Exchange Act Release No. 87517 

(November 13, 2019), 84 FR 63910 (November 19, 

2019) (SR–Phlx–2019–49). 

30See supra note 24 and accompanying text. 

31 15 U.S.C. 78f(b)(5). 

32 15 U.S.C. 78s(b)(2). 

33 17 CFR 200.30–3(a)(12). 

In support of its proposal, the 

Exchange notes that the Commission 

recently approved trading of Third 

Friday expirations for options based on 

1/100 the value of the Nasdaq-100 Index 

(‘‘XND’’).19 The Exchange states that the 

introduction of Third Friday NDXP will 

attract order flow to the Exchange, 

increase the variety of listed options to 

investors, and provide a valuable hedge 

tool to investors.20 The Exchange 

further believes that listing Third Friday 

NDXP would not have any adverse 

effects or impact on market volatility 

and the operation of fair and orderly 

markets on the underlying cash market 

at or near the close of trading in its 

Nasdaq-100 Index options.21 Further, 

the Exchange states it does not believe 

that any market disruptions will be 

encountered with the introduction of 

Nasdaq-100 Index options with thirdFriday-of-the-month expiration dates.22

The Exchange states it will monitor for 

any such disruptions or the 

development of any factors that could 

cause such disruptions.23 Finally, the 

Exchange represents it has sufficient 

capacity to handle additional traffic 

associated with listing Third Friday 

NDXP options and that it has in place 

adequate surveillance procedures to 

monitor trading in Third Friday NDXP 

options.24

The Commission has had concerns 

about the adverse effects and impact of 

p.m.- settlement upon market volatility 

and the operation of fair and orderly 

markets on the underlying cash market 

at or near the close of trading on 

expiration days.25 However, the 

Commission recently approved 

proposals from several exchanges, 

including the Exchange, to permanently 

establish programs permitting the listing 

and trading of certain p.m.-settled 

broad-based index options.26 In 

approving these proposals, the 

Commission reviewed data provided by 

the exchanges in their filings, the 

exchanges’ pilot data and reports, as 

well as an analysis conducted at the 

direction of Staff from the Commission’s 

Division of Economic and Risk Analysis 

and concluded that analysis of the pilot 

data did not identify any significant 

economic impact on the underlying 

component securities surrounding the 

close as a result of expiring p.m.-settled 

options nor did it indicate a 

deterioration in market quality for an 

existing product when a new p.m.- 

settled expiration was introduced.27

Further, the Commission stated that 

significant changes in closing 

procedures in the decades since index 

options moved to a.m. settlement may 

also serve to mitigate the potential 

impact of p.m.-settled index options on 

the underlying cash markets.28

As noted above, the Exchange 

currently may trade Third Friday XND 

options in addition to p.m.-settled NDX 

option with nonstandard expirations.29

The Exchange’s proposal, which would 

permit p.m.-settled Third Friday NDX, 

is reasonably designed as a limited 

expansion of existing p.m.-settled 

broad-based index option programs and 

may provide the investing public and 

other market participants more 

flexibility to closely tailor their 

investment and hedging decisions. The 

Exchange has represented that it has an 

adequate surveillance program in place 

to monitor trading in the Third Friday 

NDXP options and has the necessary 

systems capacity to support the new 

options series.30 The Commission 

expects the Exchange to continue to 

monitor any potential risks from large 

p.m.-settled positions and take 

appropriate action on a timely basis if 

warranted. 

Accordingly, the Commission finds 

that the proposed rule change is 

consistent with Section 6(b)(5) of the 

Act 31 and the rules and regulations 

thereunder applicable to a national 

securities exchange. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,32 that the 

proposed rule change (SR–Phlx–2023– 

45) be, and hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.33

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–25663 Filed 11–20–23; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 12268] 

Notice of Determinations; Culturally 

Significant Objects Being Imported for 

Exhibition—Determinations: ‘‘The 

Harlem Renaissance and Transatlantic 

Modernism’’ Exhibition 

SUMMARY: Notice is hereby given of the 

following determinations: I hereby 

determine that certain objects being 

imported from abroad pursuant to 

agreements with their foreign owners or 

custodians for temporary display in the 

exhibition ‘‘The Harlem Renaissance 

and Transatlantic Modernism’’ at The 

Metropolitan Museum of Art, New York, 

New York, and at possible additional 

exhibitions or venues yet to be 

determined, are of cultural significance, 

and, further, that their temporary 

exhibition or display within the United 

States as aforementioned is in the 

national interest. I have ordered that 

Public Notice of these determinations be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: 

Reed Liriano, Program Coordinator, 

Office of the Legal Adviser, U.S. 

Department of State (telephone: 202– 

632–6471; email: section2459@

state.gov). The mailing address is U.S. 

Department of State, L/PD, 2200 C Street 

NW (SA–5), Suite 5H03, Washington, 

DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 

by the Act of October 19, 1965 (79 Stat. 

985; 22 U.S.C. 2459), Executive Order 

12047 of March 27, 1978, the Foreign 

Affairs Reform and Restructuring Act of 

1998 (112 Stat. 2681, et seq.; 22 U.S.C. 

6501 note, et seq.), Delegation of 

Authority No. 234 of October 1, 1999, 

Delegation of Authority No. 236–3 of 

August 28, 2000, and Delegation of 


lotter on DSK11XQN23PROD with NOTICES1
81174 Federal Register / Vol. 88, No. 223 / Tuesday, November 21, 2023 / Notices 

Authority No. 523 of December 22, 

2021. 

Nicole L. Elkon, 

Deputy Assistant Secretary for Professional 

and Cultural Exchanges, Bureau of 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. 2023–25655 Filed 11–20–23; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

[Docket No. FAA–2023–2246] 

Agency Information Collection 

Activities: Requests for Comments; 

Clearance of a Renewed Approval of 

Information Collection: Means of 

Compliance, Declarations of 

Compliance, and Labeling 

Requirements for Unmanned Aircraft 

With Remote Identification 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice and request for 

comments. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995, FAA 

invites public comments about our 

intention to request the Office of 

Management and Budget (OMB) 

approval to renew an information 

collection. The collection involves 

information necessary to submit a 

Means of Compliance or Declaration of 

Compliance for Unmanned Aircraft with 

Remote Identification to the FAA. The 

collection also involves information 

necessary to label Unmanned Aircraft 

that have an FAA-accepted Declaration 

of Compliance. The information to be 

collected will be used by the FAA to 

determine compliance with the 

requirements for submission of a Means 

of Compliance or Declaration of 

Compliance, as well as determine 

compliance with the Unmanned Aircraft 

labeling requirements. 

DATES: Written comments should be 

submitted by January 22, 2024. 

ADDRESSES: Please send written 

comments: 

By Electronic Docket: 

www.regulations.gov (Enter docket 

number into search field) 

By mail: Benjamin Walsh, FAA Flight 

Standards Service, Emerging 

Technologies Division, AFS–700, 800 

Independence Ave. SW, Washington, 

DC 20591 

By fax: 202–267–8233 

FOR FURTHER INFORMATION CONTACT: 

Benjamin Walsh by email at: 

ben.walsh@faa.gov; phone: 202–267– 

8233 

SUPPLEMENTARY INFORMATION: Public 

Comments Invited: You are asked to 

comment on any aspect of this 

information collection, including (a) 

Whether the proposed collection of 

information is necessary for FAA’s 

performance; (b) the accuracy of the 

estimated burden; (c) ways for FAA to 

enhance the quality, utility and clarity 

of the information collection; and (d) 

ways that the burden could be 

minimized without reducing the quality 

of the collected information. The agency 

will summarize and/or include your 

comments in the request for OMB’s 

clearance of this information collection. 

OMB Control Number: 2120–0781. 

Title: Means of Compliance, 

Declarations of Compliance, and 

Labeling Requirements for Unmanned 

Aircraft with Remote Identification. 

Form Numbers: N/A. 

Type of Review: Renewal of an 

information collection. 

Background: Regulations for the 

Remote Identification of Unmanned 

Aircraft were published on January 15, 

2021, and are contained in 14 Code of 

Federal Regulations (14 CFR), part 89. 

Requirements for the means of 

compliance are in part 89, subpart E, 

while requirements for the declaration 

of compliance and unmanned aircraft 

labeling are in part 89, subpart F. 

Means of Compliance 

The FAA requires any person who 

develops a means of compliance for the 

production of a standard remote 

identification unmanned aircraft or 

remote identification broadcast module 

to submit those means of compliance for 

review and acceptance by the FAA. The 

means of compliance must include 

testing and validation procedures for 

producers to demonstrate through 

analysis, ground test, or flight test, as 

appropriate, how the standard remote 

identification unmanned aircraft or 

remote identification broadcast module 

perform their intended functions and 

how they meet the remote identification 

requirements of the final rule. 

To request acceptance of a means of 

compliance, a person is required to 

submit the following information to the 

FAA at 9-AVS-AIR-UASMOC@faa.gov: 

(1) The name of the person or entity 

submitting the means of compliance, the 

name of the main point of contact for 

communications with the FAA, the 

physical address, email address, and 

other contact information. 

(2) A detailed description of the 

means of compliance. 

(3) An explanation of how the means 

of compliance addresses all of the 

minimum performance requirements in 

the rule so that any standard remote 

identification unmanned aircraft or 

remote identification broadcast module 

designed and produced in accordance 

with such means of compliance meets 

the remote identification requirements. 

(4) Any substantiating material the 

person wishes the FAA to consider as 

part of the request. 

The FAA will indicate acceptance of 

a means of compliance by notifying the 

submitter of the acceptance of the 

submitted means of compliance. The 

FAA also expects to notify the public 

that it has accepted the means of 

compliance by including it on a list of 

accepted means of compliance at 

https://uasdoc.faa.gov. The FAA will 

not disclose commercially sensitive 

information in this notice. It will only 

provide general information stating that 

FAA has accepted the means of 

compliance. The FAA may disclose 

non-proprietary broadcast specification 

and radio frequency spectrum so that 

sufficient information is available to 

develop receiving and processing 

equipment and software for the FAA, 

law enforcement, and members of the 

public. 

A person who submits a means of 

compliance that is accepted by the FAA 

is required to retain the following data 

for as long as the means of compliance 

is accepted plus an additional 24 

calendar months: (1) all documentation 

and substantiating data submitted to the 

FAA for the acceptance of the means of 

compliance; (2) records of all test 

procedures, methodology, and other 

procedures, as applicable; and (3) any 

other information necessary to justify 

and substantiate how the means of 

compliance enables compliance with 

the remote identification requirements 

imposed by the FAA. 

Declarations of Compliance 

The FAA has a website and online 

form at https://uasdoc.faa.gov for the 

submission of declarations of 

compliance. The following information 

must be included in a producer’s 

declaration of compliance: 

(1) The name, physical address, 

telephone number, and email address of 

the person responsible for production of 

the standard remote identification 

unmanned aircraft or remote 

identification broadcast module. 

(2) The standard remote identification 

unmanned aircraft or remote 

identification broadcast module make 

and model. 

(3) The standard remote identification 

unmanned aircraft or remote 

identification broadcast module serial 

number, or the range of serial numbers 


lotter on DSK11XQN23PROD with NOTICES1